New Texas M&A Broker Exemption
Effective February 16, 2015, the Texas State Securities Board (the “Securities Board”) adopted a new rule, Section 139.27 of Title 7 of the Texas Administrative Code (the “Rule”), that exempts certain mergers-and-acquisitions brokers from dealer registration under the Texas Securities Act. An exempt mergers-and-acquisitions broker is defined in the Rule as an “M&A Dealer.” The ...
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